Fundamental Analysis

USD
-The dollar imaged stronger in comparison to its counterparts throughout the previous week, This week the was CB Consumer Confidence report which came in lower than expected with a actual of 98.6. Traders will also be closely looking at the Core Durable Goods Orders news report on Thursday followed by the advanced GDP report on Friday any positive data from the US will be closely watch by the market because of the Feds up coming rate hike decision and data dependence

Euro
-The economic momentum of the Europe exceeding expectations, The were positive PMI manufacturing and services data that rose to 53.7 for October from 52.6 in September The was also positive German Services PMI that rose to 54.1 from 50.9 in September ,A positive German Ifo Business Climate Index was release and rose to 110.5 from a 109.5 ,because of such positive data the EURUSD pair is likely to continue to hold at support at-least until the Core Durable Goods Orders news report or Advanced GDP news report

GBP
-After the BoE Gov Carney Spoke on Tuesday the pound weaken enabling price to move from 1.221 to 1.207 but than regained ground and returned back to old support of 1.221 which currently acts as resistance, A close eye will be kept on the GDP news report on Thursday the if the report comes in positive for the pound the GBPUSD pair is expected to continue to hold at support but if the news report comes out to be negative the is a possibility that a bearish breakthrough could occur between Thursday or Friday

CAD
-Last week the was a negative/down graded inflation forecast also followed by a down graded growth forecast, the was also hawkish comments out of Canada regarding Monetary Easing which placed more pressure on the Canadian Dollar, Oil price also experienced a slight declined after Saudi-Arabia announced that production will be withheld because this the USDCAD pair sore the Canadian Dollar weakening against the Dollar

AUD
-Poor employment data was released last week, The was also a raise in Comex Copper future which brought strength to the Aussie,The CPI data came out better than expected with a forecast of 0.5%in September to a raise of 0.7% October. The AUDUSD pair was seen to been moving in a sideways market simply because the Aussie dollar fundamentally strengthen whistle the Dollar is still sentimentally strengthen

DXY currency Correlation percentage

Inter-market Analysis High &Low Currency correlation

-DXY is currently moving in a bullish trend and broke through support -EURUSD & GBPUSD have a strong correlation (We will be looking to line up both EUR and GBP fundamentals which should indicate a slight weaken of both the currencies) -EURUSD & AUDUSD the pairs had previously had a strong correlation but now we see a slight deviation (The currency fundamentals don't line up with each other that is why we see a slight deviation) -EURUSD & AUDUSD the pairs had previously had a strong correlation but now we see a slight deviation (The currency fundamentals don't line up with each other that is why we see a slight deviation) -EURUSD & NZDUSD the pairs had previously had a strong correlation but now we see a slight deviation (The currency fundamentals don't line up with each other that is why we see a slight deviation)

Correlation Market Direction (Technical analysis)

-EURUSD indicates a bearish market with a strong angle of separation between the 21 & 55 SMA -GBPUSD indicates bearish market Price previously bounced of the 55 SMA But failed to form a reversal patten causing it to continue in the bearish market with a great angle of separation between the 21 & 55 SMA -NZDUSD indicates a possible start to a bearish market by the 55 & 21 SMA Price also failed to create a higher high -AUDUSD indicates a sideways market market

Retail Sales Historical Data

Retail Sales make up abou 70% of the market for most countries, This gives us a slight idea of what to expect for the GDP -The August Retail sales news data show a declined from 0.1 to -0.3 in the retail sales and September we got strong positive data from a low of -0.3 to a high of 0.6 which could indicate a positive reading for October

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